Oliver Lagore Vanvalin Investment Group Makes New $1.32 Million Investment in IDEXX Laboratories, Inc. $IDXX

Key Points

• The Oliver Lagore Vanvalin Investment Group acquired a new stake of 2,461 shares in IDEXX Laboratories, valued at approximately $1.32 million, during the second quarter of the year.
• IDEXX Laboratories reported earnings per share of $3.63 for the latest quarter, exceeding analyst expectations of $3.28, with revenue also up by 10.6% year-over-year.
• Wall Street analysts have raised their price targets for IDEXX Laboratories, with a consensus target of $649.44 as analysts rate the stock an average of "Moderate Buy."

Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,461 shares of the company's stock, valued at approximately $1,320,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in IDEXX Laboratories during the 1st quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after buying an additional 30 shares in the last quarter. WPG Advisers LLC bought a new stake in IDEXX Laboratories during the 1st quarter valued at about $37,000. Bank of Jackson Hole Trust lifted its holdings in IDEXX Laboratories by 328.6% during the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after buying an additional 69 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in IDEXX Laboratories by 108.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock valued at $44,000 after buying an additional 54 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of IDEXX Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Saturday. JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Leerink Partners raised their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 2,187 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $647.33, for a total value of $1,415,710.71. Following the sale, the director owned 262 shares in the company, valued at $169,600.46. The trade was a 89.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Lane sold 8,411 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the sale, the executive vice president directly owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,057 shares of company stock worth $34,293,468. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX traded down $2.40 during midday trading on Tuesday, hitting $641.71. The stock had a trading volume of 62,878 shares, compared to its average volume of 685,364. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The company's 50-day moving average price is $616.70 and its 200-day moving average price is $523.10. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $51.34 billion, a P/E ratio of 53.43, a price-to-earnings-growth ratio of 4.25 and a beta of 1.56.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $2.44 earnings per share. The company's quarterly revenue was up 10.6% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.400-12.760 EPS. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.